Hue Mi
09-23-2011, 05:32 PM
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Source: Iraq Directory Commercial translation - 23/09/2011
The failure of oil project (http://translate.google.com/translate?hl=en&ie=UTF8&sl=ar&tl=en&u=http://www.iraqdirectory.com/DisplayNewsAr.aspx%3Fid%3D16921)
More cautious in business abroad
`` Haste makes waste "I have heard this a lot in the history of Koriaquer successful resource development projects abroad. And President Lee Myung-bak, and seems to be added to the list.
Has proven oil project in the Kurdish region in northern Iraq, not to economic feasibility as the company spent Korea National Oil Company (CNOOC) about $ 400 million, according to a report submitted to the National Assembly in recent times.
It was a shock as the first and most successful project to drill for oil in the government is doing abroad. In February 2008 President-elect Lee met Prime Minister in the government of the Kurdish self-rule to install this transaction, CNOOC, which boasts 1.9 billion barrels of oil content.
Now that the oil wells have proved empty, Korea dealing with a triple damage, loss of $ 400 million, reduced by the Kurdish side to compensation and gain the anger of the Iraqi central government because of the agreement, due to speeding in a deal with local government.
Officials in the Ministry of Economy say it is premature to conclude that the project failed, also denying infringement of the undertaking for compensation. However deepens doubts about the government's arguments and developer of state-owned oil can vary widely too.
No less troubling is the possibility that Cheong Wa Dae and the government remained silent on this fiasco, so that officials are laws in the ruling party called for CNOOC to provide the relevant report.
. Development of oil fields abroad is necessary for resource-poor Korea, and the failure may be inevitable given the success rate of about 30 percent. But the process should be transparent.
Should the board of supervisors to hold an investigation into the rush of political and technological immaturity behind these and other human resource development projects. Must be borne by officials elected or appointed, is responsible throw taxpayers' money.
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Source: Iraq Directory Commercial translation - 23/09/2011
The failure of oil project (http://translate.google.com/translate?hl=en&ie=UTF8&sl=ar&tl=en&u=http://www.iraqdirectory.com/DisplayNewsAr.aspx%3Fid%3D16921)
More cautious in business abroad
`` Haste makes waste "I have heard this a lot in the history of Koriaquer successful resource development projects abroad. And President Lee Myung-bak, and seems to be added to the list.
Has proven oil project in the Kurdish region in northern Iraq, not to economic feasibility as the company spent Korea National Oil Company (CNOOC) about $ 400 million, according to a report submitted to the National Assembly in recent times.
It was a shock as the first and most successful project to drill for oil in the government is doing abroad. In February 2008 President-elect Lee met Prime Minister in the government of the Kurdish self-rule to install this transaction, CNOOC, which boasts 1.9 billion barrels of oil content.
Now that the oil wells have proved empty, Korea dealing with a triple damage, loss of $ 400 million, reduced by the Kurdish side to compensation and gain the anger of the Iraqi central government because of the agreement, due to speeding in a deal with local government.
Officials in the Ministry of Economy say it is premature to conclude that the project failed, also denying infringement of the undertaking for compensation. However deepens doubts about the government's arguments and developer of state-owned oil can vary widely too.
No less troubling is the possibility that Cheong Wa Dae and the government remained silent on this fiasco, so that officials are laws in the ruling party called for CNOOC to provide the relevant report.
. Development of oil fields abroad is necessary for resource-poor Korea, and the failure may be inevitable given the success rate of about 30 percent. But the process should be transparent.
Should the board of supervisors to hold an investigation into the rush of political and technological immaturity behind these and other human resource development projects. Must be borne by officials elected or appointed, is responsible throw taxpayers' money.